GM, Ford, Toyota Sales Pace Seen Slowing In Tue. DataNews — On July 3, 2012
Aging wheels of Americans companies won’t be sputtering on forever. But still the high unemployment & stagnant growth of wage has kept a lot of shoppers away from the lots of dealer in the month of June. Auto makers reported this month’s U.S.A. sales totals on Tuesday, with the economists expecting annual rate of around 13.9 million cars. This would beat the disappointing last month’s rate of 13.7 million, but it’d be shy of fourteen and half million average for 1st 4 months of this year.
Average age for U.S.A. cars & light duty trucks had reached around 10.8 years in the last year. Also working for favor of automakers’ is the easing credit, even with the ones who have tarnished their borrowing records. CEO of General Motors, Dan Akerson said on Thursday that this market was really strong & the predicted sales that are coming in above the annualized rate of 14 million.
Robert A. Dye, the chief economist working with Comerica Bank, said that the demand for new car and trucks looks “very solid.” But he is forecasting that lower rate of 13.5 million, along with the sales held well in check along with stagnant growth of wages. Lowering of the gas prices is also reducing the pressure for retiring the old guzzlers of gas & the automakers have some other places for turning the growth of sales. The sales slowed in the hot markets such as China, & crisis of euro zone dampens the export demand. Ford said on Thursday that the expected losses out side North America were tripling from $190 million loss in the regions posted for Q1, mostly due to problems of Europe.
An automotive site too is forecasting 13.9 million rate for U.S.A. sales. But it says that unit sales for June had climbed by 20 percent from one year ago, to around 1.27 million trucks and cars. This would make for industry’s 3rd-best month since the time of May 2008. It says GM will be posting unit gain of 8.7%, to around 233,987 trucks and cars. The site is forecasting 4.4 percent bump at Ford, to about 201,980 units. TM or Toyota Motor is rebounding from the disastrous damage & flooding at tsunami, with around 66.3% boost for 184,512 units. Chrysler is posting 19.2% gain of year-over-year, along with Honda Motor expected to give gain of 50.9%. Sales of Nissan Motor will go up by 22.5%.